Who would buy this new bond after just getting rugged on the last one?
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A bond issued by the government of the world's biggest economy which has no debt in this new currency. Who wouldn't. The next rug will likely be another 300 years away
I for one would not. Lending to people who just defaulted is not high on my list of things to do. Additionally, the default would have absolutely smashed the economy with all banks and pension funds being wiped out.